Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

NZ PM concerned by Australia's slow growth

New Zealand Prime Minister John Key understands what the Abbott government is trying to do with its budget, but even he is getting a little concerned about Australia's economic slowdown.

Mr Key, playing host to Prime Minister Tony Abbott in Wellington on Monday for pre-Anzac Day commemorations, has applauded Australia's efforts to get the budget under control and get on top of burgeoning government debt.

But he concedes there are factors outside the government's control, like falling iron ore prices, slowing down the Australian economy.

"Any slowdown in the Australian economy has an impact on New Zealand and we always say a strong Australia is good for a strong New Zealand," Mr Key told reporters.

Mr Key speaks from a position of strength after implementing reform measures that have resulted in the NZ economy enjoying faster growth than Australia, lower unemployment and a budget near to surplus.

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The ongoing commitment in Iraq will add to the government's attempt to rein in spending growth, as will a Senate that says "no" to pretty much any savings proposal, he says.

Mr Abbott promised last week to still deliver a smaller budget deficit each year, a pledge Mr Hockey appears to have refined over the weekend by saying the deficit will be reduced as a percentage of GDP.

Mr Richardson says there is not much difference between that and expressing it in dollar terms - perhaps $1 billion a year.

"But just the fact the government's signalling it would like that wiggle room is a strong signal just how hard it is to drag the deficit back," he said.

Meanwhile, the Labor opposition is going on a cost-of-living offensive in the run-up to Mr Hockey's second budget.

It has released an issues paper that asks people for submissions on their day-to-day living experiences as a result of the 2014 budget.

"Putting forward the voice of what people really think never goes out of fashion," Opposition Leader Bill Shorten told reporters in Sydney.